Universal Display (NASDAQ:OLED) Reaches New 1-Year Low – Should You Sell?

Universal Display Co. (NASDAQ:OLED) shares hit a new 52-week low on Wednesday . The stock traded as low as $148.09 and last traded at $149.69, with a volume of 339081 shares. The stock had previously closed at $155.85.

Analyst Ratings Changes

A number of research firms have recently issued reports on OLED. Oppenheimer reduced their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC decreased their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen dropped their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Price Performance

The firm has a market capitalization of $7.08 billion, a PE ratio of 29.94, a P/E/G ratio of 1.74 and a beta of 1.39. The company has a 50-day moving average price of $179.17 and a 200-day moving average price of $194.08.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. On average, research analysts predict that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of Universal Display

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its stake in Universal Display by 38.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,883 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 520 shares during the last quarter. Raymond James & Associates grew its stake in Universal Display by 1.8% during the second quarter. Raymond James & Associates now owns 36,911 shares of the semiconductor company’s stock worth $7,760,000 after buying an additional 647 shares during the period. Fifth Third Bancorp increased its position in shares of Universal Display by 45.6% in the second quarter. Fifth Third Bancorp now owns 817 shares of the semiconductor company’s stock worth $172,000 after acquiring an additional 256 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Universal Display during the 2nd quarter valued at $312,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Universal Display during the 2nd quarter worth $142,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.